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Reasons for Marvellous Growth of Global Oral Thin Films Market During 2021 – 2029 - A Report by Absolute Markets Insights

Published On 22 Nov 2021 09:30 AM


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Oral thin film medications provide patients with good compliance as well as convenience of storage and transit. Oral thin films combine the benefits of tablets and liquid dosage forms. Furthermore, these provide precise and exact dosing with the required effective result. Several pharmaceutical companies are moving from tablets to oral thin films that dissolve quickly. New product releases and the presence of prominent industry competitors are expected to drive the growth of oral thin films market during the forecast period. Exservan Oral Film, developed by Aquestive Therapeutics, for instance, was granted early-action approval by the US Food and Drug Administration (FDA) in November 2019 for the treatment of amyotrophic lateral sclerosis (ALS), an orphan illness. The worldwide oral thin films market has been spurred even further by a high level of acceptability and impressive benefits. In terms of revenue, global oral thin films market was valued at US$ 2509.97 Mn in 2020 growing at a CAGR of 8.5% over the forecast period (2021 – 2029). The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.

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Growing Prevalence of Indicated Diseases to Boost Market Growth

Growing prevalence of indicated diseases across the developed economies is a major factor driving the growth of global oral thin films market. Furthermore, increasing incidences of drug uses disorder globally is expected to drive the market growth. According to the World Health Organization (WHO), over 5.3 percent of the global population aged 15 to 64 used drugs at least once in 2018. Furthermore, around 58 million people out of a total population of 269 million were addicted to opioids, with more than 35 million suffering from drug use disorders. As a result, there is a growing demand for oral thin films to combat such abuse. Increasing prevalence of neurodegenerative diseases is expected to drive the segment during the forecast period. According to the National Center for Biotechnology Information, neurological diseases account for a large proportion of all diseases and have a devastating impact on patients since neurological disorders are the primary cause of impairment.

Notable Benefits of Oral Thin Films over Conventional Forms

Oral thin films have showcased multiple advantages over conventional forms of drug delivery. Their utility as a drug delivery platform is increased by the fact that even poorly soluble drugs can be incorporated into them, and also that they are extremely patient friendly. OTFs have a significantly larger surface area than other drug delivery methods, allowing for faster wetting, disintegration, and dissolution. Their preferences are heightened by the dosing flexibility and ease of administration offered by the dosage form. Companies are also coming up with unique, compact product offerings to meet the rise in demand for oral thin films globally. For instance, CURE Pharmaceutical's wholly-owned subsidiary, SeraLabs, introduced Nutri-Strips, a revolutionary oral thin-film strip technology, in October 2020. Similar innovation and development activities by the industry participants are estimated to boost the growth of global oral thin films market over the forecast period.

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Impact of Covid-19 on the Global Oral Thin Films Market

On March 11th, 2020, WHO declared the novel coronavirus disease-2019 (COVID-19), a global pandemic. The short-term effects of the COVID-19 pandemic included changes in demand, regulatory revisions, and changes in the research and development process. Increased demand was observed for prescription medicines, and medical devices during the pandemic around the world as a result of increased hospitalization and COVID-19-related pneumonia. Because of the rise in chronic diseases and the prevalence of drug disorder, a large shift is being witnessed towards oral thin films. Oral thin films market participants are capitalising on the prevalent opportunity and introducing products which most effectively caters to the emerging demand. For instance, Shilpa Medicare announced the launch of a pediatric dose paracetamol oral thin film under the brand name Molshil in June 2021. The drug is available in orange flavour in strengths of 60 mg and 120 mg. Moreover, research professionals in the healthcare sector are profusely investing towards identifying feasibility of the drug delivery method for administration of Covid-19 vaccines.

Some of the players operating in the oral thin films market are AdhexPharma, ARx, LLC, Aveneon Technology LLC, Aavishkar, CURE Pharmaceutical, DK Livkon Pvt. LTD., IntelGenx Corp, LTS Lohmann Therapie-Systeme AG, NAL Pharma, Nova Thin Film Pharmaceuticals LLC, ODF Nutra inc., Seoul Pharma Co. Ltd., tesa SE - A Beiersdorf Company, and ZIM Laboratories Limited amongst other market participants.

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Global Oral Thin Films Market:

  • By Type:
  • Buccal Films
  • Sublingual Films
  • Others
  • By Application: 
  • Cold and Flu
  • Pain Management
  • Constipation, Bloating & Gas
  • Nausea and Vomiting
  • Opiod Dependence
  • Migrane
  • Immune Function
  • Bone Growth
  • Neurodegenerative Diseases
  • Others
  • By Distribution Channel
  • Hospitals
  • Retail Pharmacies
  • Online Pharmacies
  • By Region
  • North America
    • U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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Company: Absolute Markets Insights
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Press Release Provided By: Absolute Markets Insights